Brokerages expect SkyWest, Inc. (NASDAQ:SKYW) to announce sales of $753.72 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for SkyWest’s earnings, with the lowest sales estimate coming in at $738.90 million and the highest estimate coming in at $780.00 million. SkyWest reported sales of $829.28 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.1%. The company is expected to issue its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that SkyWest will report full-year sales of $2.95 billion for the current financial year, with estimates ranging from $2.93 billion to $3.00 billion. For the next financial year, analysts anticipate that the company will post sales of $2.98 billion, with estimates ranging from $2.91 billion to $3.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for SkyWest.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.60 by $0.11. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. The company had revenue of $725.34 million for the quarter, compared to the consensus estimate of $736.71 million. During the same period in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis.
Several research analysts recently commented on the stock. ValuEngine downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Imperial Capital reaffirmed an “outperform” rating and issued a $74.00 target price (up from $69.00) on shares of SkyWest in a research note on Tuesday, April 30th. Evercore ISI reaffirmed a “buy” rating and issued a $72.00 target price on shares of SkyWest in a research note on Thursday, August 8th. Finally, BidaskClub downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.63.
In other SkyWest news, CEO Russell A. Childs sold 19,170 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $60.99, for a total transaction of $1,169,178.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Wade J. Steel sold 11,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $60.78, for a total transaction of $668,580.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,634 shares of company stock worth $5,319,783. Insiders own 3.60% of the company’s stock.
Institutional investors have recently modified their holdings of the business. AdvisorNet Financial Inc increased its position in SkyWest by 32.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,852 shares of the transportation company’s stock valued at $112,000 after purchasing an additional 457 shares during the period. C M Bidwell & Associates Ltd. lifted its position in shares of SkyWest by 90.6% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,630 shares of the transportation company’s stock worth $160,000 after purchasing an additional 1,250 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of SkyWest during the second quarter worth $176,000. Quantamental Technologies LLC bought a new stake in shares of SkyWest during the first quarter worth $191,000. Finally, 9258 Wealth Management LLC bought a new stake in shares of SkyWest during the second quarter worth $204,000. 89.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ SKYW traded up $1.37 during mid-day trading on Wednesday, hitting $57.00. The stock had a trading volume of 163,144 shares, compared to its average volume of 233,399. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.72 and a current ratio of 0.84. SkyWest has a 1 year low of $42.38 and a 1 year high of $65.80. The business has a 50 day moving average price of $59.61 and a two-hundred day moving average price of $57.54. The firm has a market cap of $2.75 billion, a P/E ratio of 10.75 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, September 27th. SkyWest’s payout ratio is currently 9.06%.
SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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